J.P. Morgan Maintains Neutral Rating and $14 PT on Seagate Technology

A report from J.P. Morgan reiterates its Neutral rating and $14 price target on Seagate Technology (NASDAQ: STX).

The report states, “In a steady state world, i.e., no Thailand flooding, Seagate's performance would have hurt the stock. Instead, the company's Dec-Q outlook points to less deterioration in the model relative to Western Digital. As a result, Seagate shares could exhibit downside support in the near term”.

STX closed yesterday at $12.06.